Rental Property Repair Advice
Hello,
New to the forum. After my tenants moved out of one of my rental properties located in the mid-west , I received rent ready estimates of $3000 and issues with potential water intrusion issues during heavy rains that requires significant foundation and grading repairs to help redirect water as well as plumbing repairs such as a sump pump and pit installation estimated to be $10,0000. Do these estimates seem reasonable? Also, given that I purchased the property for roughly $100,000 two years ago and the property value has increase 10%, do you think a potential option would be to sell the property rather than to pay the repair costs. Thanks in advance.
-Thai
New to the forum. After my tenants moved out of one of my rental properties located in the mid-west , I received rent ready estimates of $3000 and issues with potential water intrusion issues during heavy rains that requires significant foundation and grading repairs to help redirect water as well as plumbing repairs such as a sump pump and pit installation estimated to be $10,0000. Do these estimates seem reasonable? Also, given that I purchased the property for roughly $100,000 two years ago and the property value has increase 10%, do you think a potential option would be to sell the property rather than to pay the repair costs. Thanks in advance.
-Thai